Axon Enterprise (AAXN) Rating Lowered to Buy at BidaskClub

BidaskClub lowered shares of Axon Enterprise (NASDAQ:AAXN) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

A number of other equities research analysts also recently issued reports on the company. Sidoti downgraded Axon Enterprise from a buy rating to a neutral rating and set a $40.00 price target on the stock. in a research report on Monday, March 5th. They noted that the move was a valuation call. Zacks Investment Research raised Axon Enterprise from a hold rating to a strong-buy rating and set a $43.00 price target on the stock in a research report on Friday, March 2nd. Dougherty & Co reissued a buy rating and set a $36.00 price target (up previously from $33.00) on shares of Axon Enterprise in a research report on Wednesday, February 28th. JPMorgan Chase & Co. set a $37.00 price target on Axon Enterprise and gave the stock a buy rating in a research report on Wednesday, February 28th. Finally, Craig Hallum set a $37.00 price target on Axon Enterprise and gave the stock a buy rating in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $36.14.

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Axon Enterprise (NASDAQ:AAXN) opened at $39.86 on Tuesday. Axon Enterprise has a 12-month low of $20.57 and a 12-month high of $40.24. The company has a market capitalization of $2,110.00, a P/E ratio of 159.44, a PEG ratio of 3.62 and a beta of 0.88.

In other Axon Enterprise news, CRO Joshua Isner sold 9,301 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $36.34, for a total transaction of $337,998.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Luke Larson sold 36,105 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $36.62, for a total value of $1,322,165.10. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAXN. Abdiel Capital Advisors LP lifted its stake in Axon Enterprise by 106.9% during the fourth quarter. Abdiel Capital Advisors LP now owns 3,092,945 shares of the industrial products company’s stock worth $81,963,000 after purchasing an additional 1,598,360 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Axon Enterprise by 62.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,000,627 shares of the industrial products company’s stock worth $26,517,000 after purchasing an additional 385,793 shares during the last quarter. Ashford Capital Management Inc. lifted its stake in Axon Enterprise by 149.7% during the fourth quarter. Ashford Capital Management Inc. now owns 549,993 shares of the industrial products company’s stock worth $14,575,000 after purchasing an additional 329,760 shares during the last quarter. BlackRock Inc. lifted its stake in Axon Enterprise by 3.8% during the fourth quarter. BlackRock Inc. now owns 8,539,258 shares of the industrial products company’s stock worth $226,289,000 after purchasing an additional 313,954 shares during the last quarter. Finally, OxFORD Asset Management LLP bought a new stake in Axon Enterprise during the third quarter worth $6,655,000. Hedge funds and other institutional investors own 95.87% of the company’s stock.

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About Axon Enterprise

Axon Enterprise, Inc, formerly TASER International, Inc, is engaged in development, manufacture and sale of conducted electrical weapons (CEWs) for use by law enforcement, military, corrections and private security personnel, and by private individuals for personal defense. It is also engaged in development of connected wearable on-officer cameras.